ValuEngine Downgrades Pacific Biosciences of California (NASDAQ:PACB) to Strong Sell

Pacific Biosciences of California (NASDAQ:PACB) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Thursday, ValuEngine reports.

PACB has been the topic of a number of other reports. BidaskClub cut shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald set a $8.00 target price on shares of Pacific Biosciences of California and gave the stock a “hold” rating in a research report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $7.50.

Shares of PACB stock opened at $5.14 on Thursday. The firm’s 50 day moving average price is $5.40 and its two-hundred day moving average price is $6.26. Pacific Biosciences of California has a fifty-two week low of $3.90 and a fifty-two week high of $7.84. The company has a quick ratio of 1.65, a current ratio of 2.00 and a debt-to-equity ratio of 0.58.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). Pacific Biosciences of California had a negative net margin of 140.68% and a negative return on equity of 106.36%. The business had revenue of $24.62 million for the quarter, compared to analysts’ expectations of $22.27 million. Analysts expect that Pacific Biosciences of California will post -0.64 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alpine Group USVI LLC acquired a new position in shares of Pacific Biosciences of California during the third quarter worth $2,064,000. Water Island Capital LLC increased its stake in shares of Pacific Biosciences of California by 7.0% in the second quarter. Water Island Capital LLC now owns 3,878,336 shares of the biotechnology company’s stock worth $23,464,000 after buying an additional 254,659 shares during the last quarter. Polar Asset Management Partners Inc. increased its stake in shares of Pacific Biosciences of California by 485.0% in the second quarter. Polar Asset Management Partners Inc. now owns 475,000 shares of the biotechnology company’s stock worth $2,874,000 after buying an additional 393,800 shares during the last quarter. TIG Advisors LLC bought a new stake in shares of Pacific Biosciences of California in the second quarter worth $1,809,000. Finally, Natixis bought a new stake in shares of Pacific Biosciences of California in the second quarter worth $956,000. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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